REG - Crimson Tide PLC - Contract Win

Crimson TideAnnouncement

01/02/2023 07:00

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RNS Number : 4682O  Crimson Tide PLC  01 February 2023

 Crimson Tide Plc
Inaugural Contract Win in the United States

 

Crimson Tide Plc (TIDE) ("Crimson Tide" or "The Company"), the provider of the
mpro5 solution, is pleased to announce the signature of its inaugural
subscription contract in the United States. The three-year contract is worth
over £0.25m and will see mpro5 implemented as the Smart App Solution in a
building-wide IoT project in our clients' offices in San Francisco.

mpro5 will be used to initiate smart actions from sensor readings in this
office, which is envisaged to be the first in a wider implementation of mpro5
in the US and other locations. The client is a supplier of network solutions
globally, and this installation will enable its representatives to demonstrate
mpro5 to its own existing and projected clients.

Chairman Barrie Whipp commented, "This contract win is a landmark in its own
right, validating our strategy to expand into the United States. The
opportunity that it creates, however, is of much greater significance. Our
client operates globally, and the use of mpro5 in its San Francisco office
offers us the chance to demonstrate mpro5 in action for one of the world's
largest providers of IT networking.

"The contract win verifies our strategy to standardize mpro5 and productize it
for sale and use with third-party hardware and software. We hope that mpro5
will become an integral part of our client's IoT strategy, allowing its
partners to add mpro5 as an option in their sales process."

 

Enquiries:

Crimson Tide
plc
+44 1892 542444

Barrie Whipp / Jacqueline Daniell

finnCap Ltd (Nominated Adviser and Broker)
                   +44 20 7220 0500

Julian Blunt / Milesh Hindocha, Corporate Finance

Andrew Burdis, Corporate Broking

Alma PR (Financial
PR)
+44 7780 901979

Josh Royston

 

For further information on Crimson Tide plc, see crimsontide.co.uk and
mpro5.com

 

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